INPEX ACQUIRES BLOCKS IN KEATLEY CANYON AND WALKER RIDGE

July 29, 2019

Tokyo-based Inpex announced that its subsidiary Inpex US Offshore, LLC has reached an agreement with Anadarko Petroleum Corporation (Anadarko) to acquire a 40 percent participating interest in Keathley Canyon blocks 921 and 965 as well as Walker Ridge blocks 881 and 925 (hereinafter referred to collectively as the Blocks) in the US Gulf of Mexico. Anadarko is an American independent oil and natural gas exploration and production company.
The Blocks are located approximately 380 kilometers off the coast of the State of Louisiana and cover an area of 93.2 square kilometers where the water depth ranges between approximately 2,150 and 2,700 meters. The Blocks lie in the vicinity of the Lucius Oil Field and Hadrian North Oil Field, which are both producing oil fields in which Inpex has participating interests through its subsidiary. Inpex plans to drill an exploration well at an early stage in partnership with the operator, Anadarko, subject to Inpex and Anadarko Management approvals and further evaluation work. As stated in its “Medium-term Business Plan,” Inpex positions the Gulf of Mexico as one of the company’s priority exploration areas. The acquisition of the Blocks is also aligned to Inpex’s pursuit of the “sustainable growth of oil and natural gas E&P activities,” one of the growth targets outlined in the company’s “VISION 2040” announced in May 2018.
The blocks lay in water depths ranging from 2,150 to 2,700 meters. Anadarko will remain the operator.
(Source and image: Inpex)